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Pedro Coelho named as Prime Minister of Portugal

Portugal's Social Democrat leader Pedro Passos Coelho was named as the country's new prime minister on Wednesday, following his party's June 5 parliamentary election win. Coelho takes over from the ailing Socialist party's Jose Socrates.

AFP - Social Democrat leader Pedro Passos Coelho was named Portugal's new prime minister on Wednesday following his centre-right party's victory in a June 5 parliamentary election, the presidency said.

"After having listened to all the political parties represented in parliament, the president of the republic has named the president of the Social Democrat party, Pedro Passos Coelho, as prime minister," said a statement from President Anibal Cavaco Silva's office.

The 46-year-old Passos Coelho replaces Jose Socrates, whose Socialist party saw its share of votes slump to its lowest level since elections in 1987.

Passos Coelho's main challenge will be to implement a programme of spending cuts and economic reforms Lisbon agreed to last month in exchange for a 78 billion euro bailout from the European Union and International Monetary Fund.